Question of price

Maersk Sealand wants the share price in India's Gujarat Pipavav Port Ltd (GPPL) lowered if it is to exercise an option to pick up another 13 percent stake in the company.

GPPL, promoted by Sea King Infrastructure, is being developed as a major hub port. The APMoller Group of Denmark, which owns Maersk Sealand, failed to meet the June 30, 2002 deadline for exercising an option to buy the additional GPPL stake at around Rs80 (US$1.65) per share....